Cone Health Offers Interest-Free Payment Plan

The payment plan program helps consumers better manage their health care bills.

Greensboro –With the rapid increase in high-deductible health plans and out-of-pocket expenses, health care affordability is considered one of the fastest growing health care problems in the U.S. In response to that, Cone Health now offers a 100 percent interest-free payment plan option for patients. The program is a partnership with AccessOne.

“Patients should never feel a financial burden stands between them and the care they need,” shares Mike Simms, Cone Health’s vice president of revenue cycle. “At Cone Health, we believe that truly compassionate care includes affordability, which is why we are expanding our offering of 100 percent interest free payment plan options to our patients. We want our patients to focus 100 percent on getting well.”

A recent study shows that 66.5 percent of all bankruptcies were tied to medical issues. Credit debt also continues to rise dramatically, reaching a record $1.057 trillion in March of 2019.

Cone Health’s internal payment plan lasts for up to 12 months and the number of months allowed will be based on account balance. For those patients whose account balance is outside of the Cone Health internal plan, the patient will be given the AccessOne program. A credit report will not be obtained to qualify for the AccessOne program and everyone is accepted. A payment schedule is set up with no interest charged for up to 3 years. The payment schedule is determined by the account balance. Larger balances up to $10,000 can qualify for up to 3 years, smaller balances are paid over a shorter time period based on account balance. The AccessOne program helps with all Cone Health medical bills, from hospitals to clinics.

“Cone Health continues to show how innovation on the financial side of care can revolutionize patient engagement strategies and improve patient satisfaction.” said Stephen Scott, AccessOne senior vice president of implementation. “We have been able to work with the Cone Health team over the past 5 years and provide a flexible technology platform that tailors payment plan solutions to their patient’s needs.”

Simms adds, “We refuse to stand still while our patients struggle to understand and pay their bills. With all the changes to Medicare, Medicaid and other legislation, we need to make lasting changes that support our community from the ground up.”

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